National Insurance Mediclaim Policy is a traditional health insurance plan that provides comprehensive coverage to the policyholders. This plan was launched by the National Insurance Company to offer financial comfort to the insured at the time of a medical emergency. The plan comes with a long list of useful features and additional benefits.
The plan looks after in-patient hospitalization (minimum 24 hours) expenses and 140+ day care procedures on a reimbursement/cashless basis. It also offers coverage against expenses associated with allopathic, ayurvedic and homoeopathic treatment.
Read more about the features, benefits, eligibility conditions, and exclusions of the plan. It is important to have a clear understanding of all these factors before buying the plan. Let's have a look.
National Mediclaim Policy comes with useful features and benefits, which the insured person can avail of to tackle a medical emergency. For the convenience of readers, we've listed down all the key features of this plan. Read below.
The plan looks after all the expenses incurred against room rent/ICU charges, medical practitioner, anesthetist, surgeon's fees, etc. up to the specified limits.
To offer a complete package, the policy covers the expenses of 12 treatments including immunotherapies, oral chemotherapies, robotic surgery, among others.
If the insured person wishes to avail of treatment under Allopathy, Ayurveda, and Homeopathy, the plan will cover its expenses (up to 100% of Sum Insured).
If a situation arises when the insured needs to be taken to the hospital in an ambulance, its expenses will be covered (up to 1% of Sum Insured, maximum Rs.2000) under the policy.
The plan provides pre-hospitalization cover (up to 45 days) and post-hospitalization cover (up to 60 days) respectively for the same disease/illness/injury for which hospitalization occurred.
The plan allows the cashless facility at any network hospital that means you will be saved from paying the treatment expenses yourself as the company will take care of your hospital bills.
If the insured person (having SI of 6 lakhs & above) finishes off his SI on account of hospitalization claims, the company is liable to reinstate his base SI (according to its conditions).
If the insured person doesn't claim in 4 continuous policy years, the policy will pay for his health-check-up/prescribed diagnostic tests (up to 1% of average basic SI, maximum Rs.5000).
The company grants a discount on choosing co-pay options. On 20% co-payment, 15% off is given on the total premium. And on 15% co-payment, 10% off is given on total premium.
In the case of every claim-free year, the insured can earn a cumulative bonus of 5% of the basic SI of the expiring policy.
The policy covers the treatment expenses of certain illnesses like morbid obesity and correction of eyesight (refractive errors above -7.5 D) after their waiting period is over.
The plan also comes with an add on benefit of a lifelong renewability option that assists customers for a long tenure.
The premium paid towards this health insurance policy is liable to get the helpful tax benefits under section 80D of the Income Tax Act, 1961.
National Insurance Company has fixed a certain set of conditions that customers are required to fulfill to buy this plan. The table given below enlists the eligibility conditions of this plan. Let's check.
|Age at entry||18 years||64 years|
|Sum Insured||Rs. 1 Lakh||Rs. 10 Lakhs|
|Policy Period||1 Year|
|Pre & post-hospitalisation||45 & 60 days|
For your convenience, we've provided here a sample chart to illustrate different premium rates of the National Mediclaim Policy. The chart here shows a graphical representation of different premium rates for different amounts of the sum insured.
Note that the premium amounts in this chart are calculated for a 30-year old independent person, buying the policy for himself.
Sample Premium Illustration of National Mediclaim Policy
Though National Mediclaim Policy promises comprehensive coverage, there are a few conditions/situations that it doesn't cover. Let's learn about them.
To know more about them, please check the policy brochure.
National Insurance Company advises its customers to follow the below-listed process for successful claims.
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Individuals aged 50 years & above have to undergo a medical check-up.
As per the IRDAI guidelines, portability is allowed to/from similar products.
Yes, a 10% discount is available.
Just follow the below process:
The plan comes with two co-payment options. These options are:
Yes, the National Insurance Company allows policyholders to cancel this policy by giving 15 days written notice. However, in case of any such an event, the premium amount is refunded for the unexpired policy period as detailed below:
|Period of risk||Rate of premium to be charged|
|Up to 1 month||1/4 of the annual rate|
|Up to 3 months||1/2 of the annual rate|
|Up to 6 months||3/4 of the annual rate|
|Exceeding 6 months||Full annual rate|
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Last updated on 20-05-2021
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